Renaissance Technologies LLC Sells 333,000 Shares of FuelCell Energy, Inc. $FCEL

Renaissance Technologies LLC trimmed its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 27.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,600 shares of the energy company’s stock after selling 333,000 shares during the period. Renaissance Technologies LLC’s holdings in FuelCell Energy were worth $5,789,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FCEL. Kestra Advisory Services LLC bought a new stake in shares of FuelCell Energy during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after buying an additional 7,080 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in FuelCell Energy during the 4th quarter worth about $78,000. Franklin Resources Inc. acquired a new position in FuelCell Energy during the 4th quarter worth about $84,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in FuelCell Energy during the 4th quarter worth about $91,000. Institutional investors own 42.78% of the company’s stock.

Insider Activity

In other news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares in the company, valued at $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.46% of the stock is owned by corporate insiders.

FuelCell Energy Trading Down 5.7%

Shares of NASDAQ FCEL opened at $21.21 on Thursday. FuelCell Energy, Inc. has a fifty-two week low of $3.78 and a fifty-two week high of $37.88. The firm has a market capitalization of $1.70 billion, a P/E ratio of -3.23 and a beta of 2.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The company’s 50 day simple moving average is $22.07 and its 200 day simple moving average is $14.29.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The business had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.During the same period in the prior year, the firm posted ($1.79) EPS. On average, analysts predict that FuelCell Energy, Inc. will post -1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

FCEL has been the subject of several research reports. TD Cowen restated a “hold” rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. UBS Group raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $27.00 in a research note on Tuesday, July 14th. Wall Street Zen raised shares of FuelCell Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $32.00 in a report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.